ASX Gains, Buoyed By JB Hi-Fi and Super Retail

AFR2022-10-27

Australian shares lifted 0.5 percent in early trade on Thursday with energy and materials leading gains.

ANZ shares shed 0.4 percent despite annual cash profit of $6.5 billion. NAB and Westpac also slipped but CBA eked out a 0.1 percent gain.

JB Hi-Fi leapt 2.7 percent after sales in the first quarter posted double-digit growth across both brands which includes The Good Guys.

Fortescue Metals rose 1 percent after shipping a record volume of iron ore in the past three months.

Super Retail advanced 1.4 percent after posting a 20 percent jump in sales in the first three months of the new financial year.

Mining heavyweights Rio Tinto and BHP jumped more than 1 percent.

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